Indian Oil gets strong response on slick debut

Indian Oil Corp made its debut in the international bond markets late on Thursday night, raising $500m in a popular deal that came well inside initial price talk.

14 Jan 2010

Deutsche Bank, HSBC and Standard Chartered arranged the five year deal, which came at 99.692 to yield 4.82%, giving a spread of 205bp over mid-swaps. That was at the tight end of guidance set at 205bp-210bp on the day of pricing, and much lower than initial guidance.